Egypt’s economy is stabilizing thanks to the raft of reforms it has implemented as part of its November 2016, $12bn loan agreement with the IMF. Cairo is now looking to finalize its 2018-19 budget, which begins 1 July, and just 15 months into the IMF agreement the economy remains fragile. Egypt is looking towards revenue boosts from rebounding tourism and its gas sector in the year ahead.
Growth has accelerated quarter on quarter, from 1.1% in the first quarter of the 2016-17 financial year (July-September), to 2.2% in Q4 “driven by manufacturing, construction, real estate, natural gas, retail trade, transport and communication,” the IMF says. (CONTINUED - 1372 WORDS)
